Comcast 2013 Annual Report Download - page 168

Table of Contents
NBCUniversal Media, LLC
Note 9: Long-Term Debt
Long-Term Debt Outstanding
As of December 31, 2013 and 2012, our debt had an estimated fair value of $11.7 billion and $12.6 billion, respectively. The
estimated fair value of our publicly traded debt is based on quoted market values for the debt. To estimate the fair value of debt for
which there are no quoted market prices, we use interest rates available to us for debt with similar terms and remaining maturities.
Debt Maturities
Debt Instruments
Revolving Credit Facility
In connection with the Redemption Transaction, on March 19, 2013, NBCUniversal Enterprise amended and restated our existing
credit agreement to, among other things, substitute NBCUniversal Enterprise for us as the sole borrower to the revolving credit
facility. As a result, we no longer have a revolving credit facility with third-
party banks. Following the amendments to our credit
agreement, our commercial paper program was terminated and we entered into a revolving credit agreement with Comcast. See
Note 4 for additional information on the revolving credit agreement with Comcast.
Cross-Guarantee Structure
On March 27, 2013, we, Comcast and four of Comcast’s wholly owned cable holding company subsidiaries (the “cable guarantors”
)
entered into a series of agreements and supplemental indentures to include us as a part of Comcast’s existing cross-
guarantee
structure. As members of the cross-
guarantee structure, Comcast and the cable guarantors fully and unconditionally guarantee our
public debt securities, and we fully and unconditionally guarantee all of Comcast’s and the cable guarantors’
public debt securities.
As of December 31, 2013, we guaranteed $31 billion of outstanding debt securities of Comcast and the cable guarantors. We also
fully and unconditionally guarantee the $6.25 billion Comcast revolving credit facility due 2017, of which no amounts were
outstanding as of December 31, 2013.
Weighted-
Average
Interest Rate as of
December 31,
2013
Successor
December 31 (in millions)
2013
2012
Senior notes with maturities of 5 years or less
2.884
%
2,917
2,933
Senior notes with maturities between 6 and 10 years
4.388
%
4,996
3,999
Senior notes with maturities greater than 10 years
5.614
%
3,205
4,203
Other, including capital lease obligations —
47
106
Total debt
4.22
%
11,165
11,241
Less: Current portion
906
10
Long
-
term debt
$
10,259
11,231
(a)
Includes the effects of our derivative financial instruments.
(in millions)
Weighted-
Average
Interest Rate
2014
2.121
%
$
906
2015
3.597
%
$
1,032
2016
2.876
%
$
1,008
2017
6.287
%
$
2
2018
6.299
%
$
2
Thereafter
4.871
%
$
8,215
163
Comcast 2013 Annual Report on Form 10
-
K
(a)